July 1 (Reuters) - British drugmaker AstraZeneca Plc AZN.L
said it sold the rights to develop an experimental mid-stage
drug to treat atopic dermatitis to privately-held LEO Pharma.
LEO Pharma would pay AstraZeneca $115 million in upfront
payment and $1 billion in milestones. However, AstraZeneca will
retain rights to develop the drug, tralokinumab, to treat severe
asthma, the company said.
Separately, AstraZeneca said it terminated its licensing
deal with Canadian drugmaker Valeant Pharmaceuticals (NYSE:VRX)
International Inc VRX.TO on its experimental psoriasis drug,
brodalumab, and sold the rights to that drug in Europe to LEO
Pharma. Details of the deal were not disclosed.